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Home / Author Archives: M. Faizan

Author Archives: M. Faizan

Audit selection of taxpayers based on transparent, automated process: FBR Member Rehmatullah Wazir

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ISLAMABAD: Federal Board of Revenue (FBR) Member Taxpayers Audit Rehamtullah Khan Wazir has believed that new trend in taxpayers audit will not only promote compliance with the existing tax laws but will also generate more revenues. He expressed these views during an exclusive interview with Customs Today. Rehmatullah Wazir said that the audit policy for 2016, will continue in future ... Read More »

FBR Member Taxpayers Audit Rehmatullah Wazir moves to BS-22

Rehmatullah Wazir

ISLAMABAD: The Federal government has promoted grade 21 officer of Inland Revenue Service Rehamt Ullah Khan Wazir in Grade 22 with the approval of Prime Minister Shahid Khaqan Abbasi. Rehmat Ullah Khan Wazir presently serving as Member Tax Payers Audit in Federal Board of Revenue and belong to 10th Common Training Program. Chairman Federal Board of Revenue has upgraded the ... Read More »

PM directs FBR to take measures to resolve issue of refunds

Prime Minister Shahid Khaqan Abbasi in a meeting with a delegation of All Pakistan Textile Mills Association (APTMA) at Prime Minister’s Office in Islamabad on October 13, 2017

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi held a meeting with a delegation of All Pakistan Textile Mills Association (APTMA) at Prime Minister’s Office. Finance Minister Muhammad Ishaq Dar, Commerce Minister Pervaiz Malik, SAPM Haroon Akhter, SAPM Mr. Miftah Ismail, Chairman Federal Board of Revenue Tariq Mehmood pasha and senior officers of relevant divisions were also present during the meeting. During ... Read More »

FBR offering facilities to taxpayers to file their tax returns: Member FATE Nausheen

Photo Member FATE Nausheen

KARACHI: As part of FBR’s outreach and awareness programme for filing income tax returns before October 31, 2017, a two-member FBR team led by Member FATE Nausheen Javaid Amjad spent a busy day in Karachi on Thursday. The team held a series of meetings with the heads of various banks and companies to apprise them of the facilities by the ... Read More »

Senate Finance Committee rejects clarification on World Bank report on Pak economy

SENATOR SALEEM MANDVIWALLA, CHAIRMAN SENATE STANDING COMMITTEE ON FINANCE, REVENUE, ECONOMIC AFFAIRS, STATISTICS AND PRIVATIZATION PRESIDING OVER A MEETING OF THE COMMITTEE AT PARLIAMENT HOUSE ISLAMABAD ON OCTOBER 12, 2017.

ISLAMABAD: Despite clarification from the Finance Ministry about the World Bank’s recent report, the Senate Standing Committee on Finance and Revenue has asked the Finance Ministry to brief the House about the current and exact state of the national economy. In its report, the World Bank had pointed out increased vulnerability of external account and risk to macroeconomic stability given ... Read More »

FBR Chairman Pasha orders to conduct thorough probe of fake customs officials issue

Tariq Mahmood Pasha

ISLAMABAD: Federal Board of Revenue  (FBR) Chairman Tariq Mehmood Pasha has ordered the Model Customs Collectorate Islamabad and Directorate General Customs Intelligence and Investigation Headquarter to conduct a thorough inquiry into the incidents of looting the British and non-resident Pakistani families at Rawat by the some unknown persons who claimed as customs officials. Sources told Customs Today that Chairman Pasha ... Read More »

Collector Adjudication Dr Naeem to hear case filed against mobile phone smuggler on October 24

Customs Adjudication

ISLAMABAD: Collector Customs Adjudication Dr. Naeem Ijaz has issued a show cause notice to Muhammad Asif, a resident of Vehari, on the charges of mobile phone smuggling and fixed the hearing date as October 24, 2017. Muhammad Asif was caught red handed at Benazir Buhtto Airport by the customs authorities. According to details, during the examination of baggage of Muhammad ... Read More »

Tax issues of dairy sector to be resolved on priority basis: Haroon Akhtar

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ISLAMABAD: Special Assistant to Prime Minister on Revenue Haroon Akhter has assured the dairy sector that all their issues related to tax and duties will be resolved on priority basis. He advised the businessmen associated with dairy sector to review prices of dairy products and maintain their quality in public interest. A delegation of the Pakistan Dairy Association met with ... Read More »

FBR starts attaching property of tax defaulters

Sialkot Excise seals 300 properties impounds 211 vehicles due to tax default copy

ISLAMABAD: The Federal Board of Revenue (FBR) has initiated a campaign against tax defaulters and the Regional Tax Office has started attaching immovable properties of tax defaulters. According to details, the Inland Revenue Officer, Muhammad Saleem, has ordered to attach the immovable property no: 88 Sector G/13-2 Islamabad of alleged tax defaulter Ms. Shaista Farhan, daughter of Aslam Ashrafi, under ... Read More »

Customs Intelligence detects tax evasion of Rs 737.431m by M/s Sun Diplomatic Bonded House

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ISLAMABAD: Directorate General Customs Intelligence and Investigation (I&I) has shown tremendous performance under the supervision of Director General Shaukat Ali and has detected a case of duty and tax evasion through under invoicing and smuggling of liquor amounting to Rs 737.431 million by M/s Sun Diplomatic Bonded Warehouse (Pvt) Limited, Sector F-11/4, Islamabad. Sources told Customs Today  that information was ... Read More »

Traders urge govt to review FTA with China

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ISLAMABAD: The patron Islamabad Chamber of Small Traders, Dr Shahid Raseed Butt, has demanded the government that the Free Trade Agreement (FTA) with China has inflicted heavy losses on Pakistan’s economy; hence, it should be reviewed and balanced immediately.  Many industrial units and SMEs have been closed down as a result of faulty trade deal resulting in massive unemployment in ... Read More »

Dar reviews revenue collection measures of 1Q

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ISLAMABAD: Federal Finance Minister Mohammad Ishaq Dar chaired a meeting at the Ministry of Finance on Monday to review fiscal out turns of the first quarter (July to September) of current fiscal year. Finance Secretary presented provisional data on fiscal operations during the meeting, and stated that the first quarter has closed on strong fiscal performance. Finance Secretary stated that ... Read More »

FBR Chairman Pasha to personally hear appeal filed by suspended Inspector Asad on October 24

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Tariq Mehmood Pasha will give personal hearing to an ex-inspector of Large Tax Payer Unit Lahore Asad Yaseen on October 24, 2017. Sources told Customs Today, that Asad has already been dismissed from service but he appealed to the chairman to allow him the last opportunity to prove his innocence. Inspector Asad was ... Read More »

Govt approves promotion of four FBR officials to BS-22

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ISLAMABAD: After the approval of Prime Minister Shahid Khaqan Abbasi, the federal government has announced the names of officers who are promoted to Grade 22. Among them are four officials from the Federal Board of Revenue (FBR).  Member Inland Revenue Operation Federal Board of Revenue, Ms. Raana Ahmed,  Director-General Post Clearance Audit Khawaja Tanveer Ahmed, Sumaira Nazir and Chief Collector ... Read More »

FBR Chairman Tariq Pasha to preside over 2nd chief commissioner moot today

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ISLAMABAD: On the directions of Chairman Federal Board of Revenue Tariq Mehmood Pasha, Chief Operation Inland Revenue Aftab Alam has called the chief commissioner conference at FBR House Islamabad today. This will be 2nd chief commissioner conference and will be held under the chairman Federal Board of Revenue Tariq Pasha. Special Advisor to Prime Minister for Revenue Haroon Akhtar will ... Read More »

Senate body for finalization of TORs on separation of account & audit cadres in three months

SENATOR SALEEM MANDVIWALLA, CHAIRMAN SENATE STANDING COMMITTEE ON FINANCE, REVENUE, ECONOMIC AFFAIRS, STATISTICS AND PRIVATIZATION PRESIDING OVER A MEETING OF THE COMMITTEE AT PARLIAMENT HOUSE ISLAMABAD ON OCTOBER 04, 2017.

ISLAMABAD: The Senate Standing Committee on Finance, Revenue and Economic Affairs, in its meeting on Wednesday, gave  the officials concerned three months to hold consultations and finalize the TORs. The committee also sought a final report on the separation of account and audit cadres in line with a summary approved by the prime minister. The meeting was held under the ... Read More »

FBR, SBP & 1-Link ink MoU for modern tax payment system

FBR-SBP signing ceremony

ISLAMABAD: Finance Minister Mohammad Ishaq Dar witnessed a signing ceremony for a modern tax payment system between the Federal Board of Revenue (FBR), State Bank of Pakistan (SBP) and 1-Link at the Ministry of Finance. The modern system will enable payment of taxes through Alternate Delivery Channels (ADCs). A Memorandum of Understanding (MoU) for launching a pilot project for payment ... Read More »

Period of reduced withholding tax on bank transactions extended till Dec 31

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ISLAMABAD: Period of applicability of reduced rate of 0.4 percent withholding tax under section 236-P of the Income Tax Ordinance, 2001 on bank transactions for non-filers has been further extended till December 31, 2017. The Federal Board of Revenue has issued an amended SRO 983 (1) 2017 in this regard on September 29. According to a notification issued by the ... Read More »

Plan for effective implementation on tax laws thru enforcement prepared

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ISLAMABAD: The Federal Board of Revenue has planned an effective implementation on tax laws through enforcement. In this regard, a national enforcement plan and strategy will be announced soon. A highly placed source at the Federal Board of Revenue has told Customs Today that a tax expert and a very experienced officer of FBR Director General Enforcement Dr. Bashir Ullah ... Read More »

NDP Honda Civic taken into possession by Special Car Cell Islamabad

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ISLAMABAD: In an ongoing campaign against the smuggled vehicles, the Special Car Cell, Directorate General of Customs Intelligence and Investigation Headquarters, has impounded a non-duty-paid smuggled Honda Civic car, Modal 2005, valued at Rs1.496million while evaded duty and taxes’ amount is Rs1.496million. Following a tip-off, a team of the Special Car Cell, comprising Superintendent Saeed Ahmed, Intelligence Officers Gul Nawaz, ... Read More »